In a recent Parks Associates study, residents consistently provided higher ratings for properties that provided smart home devices versus those that didn’t. Roughly 74% of participants* rated energy savings from the ability to remotely control appliances and being able to monitor their homes as “High Value” and were willing to pay more for it.
While 84% of property managers showed intent to install internet-connected devices within the next 12 months**, the ability to integrate with their management systems, ease of use, and reliability remain key concerns for their decision to invest in smart technology.
Parks Associates identified top vendors in the MDU market, leaning on conversations with MDU owners, operators, and property managers to learn what they are looking for in their partners. This includes features but also leans on additional factors, including integration, reputation, and customer service.
*What Residents Want: Demand for Tech in Multifamily," Parks Associates, 2022
**What Property Managers Want: Opportunities for Tech in Multifamily," Parks Associates, 2022
From the article, "Smart Technology for a superior customer experience" from National Apartment Association
Before we go any further, let’s look at the vastness of the IoT space for a moment. The global Internet of Things market will grow to $1.7 trillion in 2020 from $655.8 billion in 2014. According to Ga...
The smart lighting category is growing steadily and has potential for acceleration with solutions that deliver on the core value propositions of convenience, comfort, energy management, and automation...
At the moment, hospitality, retail, and even QSR brands are examining the role that voice-activated assistants could play in complementing service and sales staffs at their respective hotels and store...
“Apple has been enormously successful with its technology and brand power among consumers, so Apple’s entry into the healthcare industry is at least beneficial in raising consumer awareness of excitin...
